Ford Motor Co. in Dearborn has appointed Brett Wheatley as CEO of TransLoc, a transportation software solutions company that’s part of the Ford Mobility portfolio.
Founded in 2004, TransLoc develops intelligent software solutions and services for transit agencies. TransLoc also offers an app that allows users to explore transit stops and stay up to date on bus locations and arrival times.
After being acquired by Ford and merging with microtransit providers DoubleMap and Ride Systems, TransLoc has more than 40 years of industry experience and comprehensive data-driven and accessible solutions for on-demand and fixed route services.
Working with cities, universities, and other businesses with transit needs, TransLoc powers more than 600 million rides per year. In 2020, TransLoc helped its customers in more than 1,500 locations across the U.S. navigate the COVID-19 pandemic and support the more than 3.7 billion transit rides that occurred in the past year.
Wheatley will report to Scott Griffith, CEO of Ford Autonomous Vehicles LLC and Mobility Businesses. He will be based in Dearborn.
“Brett knows TransLoc better than anyone else at Ford, and his experience will be invaluable in this new role,” says Griffith. “The industry is moving quickly, so filling this position with someone who truly understands the business and who can help TransLoc focus on the future is critical.”
Wheatley will prioritize greater collaboration across Ford’s mobility and self-driving vehicle business. He will also tap existing synergies between TransLoc and Ford to further develop transit operations and the data infrastructure needed to power transportation solutions.
“Efficient transit services are critical to the economy and the future of U.S. cities,” says Wheatley. “New developments in connected and autonomous vehicles will continue to improve how we travel, but their success is dependent upon how we integrate these services into our existing transit systems across cities, campuses, and corporate enterprises, and continue to provide equitable access.”
One of the most experienced mobility professionals at Ford, Wheatley continues to lead Mobility Businesses as vice president, and is responsible for leading its strategic growth within the Ford AV LLC. He also established the company’s international mobility expansion across Europe, India, and China. Other business units led by Wheatley include Spin, City Solutions, and Office Ride.
In other roles during his 30-year tenure at Ford, Wheatley established and led the global marketing and sales team for Ford Smart Mobility to drive demand with consumer, commercial, and city customers. He also brings international experience to the table, having led marketing and service initiatives for Ford across 13 Asia Pacific markets, based in Shanghai, China.
Wheatley has also previously played a critical role as part of the Ford corporate Fitness Redesign Initiative, driving improvements across the enterprise and leading a complete overhaul of the functional fitness across the globe. He served as executive director of the North American Ford Customer Service Division, where he was responsible for Ford and Motorcraft parts and service activities for Ford and Lincoln dealers, Quick Lanes, and independent repair facilities.
In related news, Ford Motor Co. today announced its intention to offer, subject to market conditions and other factors, $2.0 billion aggregate principal amount of convertible senior notes due 2026 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. Ford also expects to grant the initial purchasers of the notes a 13-day option to purchase up to an additional $300 million aggregate principal amount of the notes, solely to cover over-allotments, if any.
The notes will be unsecured, senior obligations of Ford. The notes are expected to accrue interest payable semiannually in arrears. Conversions of the notes will be settled in cash up to the aggregate principal amount of the notes to be converted and cash, shares of Ford’s common stock or a combination thereof, at Ford’s election, in respect of the remainder, if any, of Ford’s conversion obligation in excess of the aggregate principal amount of the notes being converted. The initial conversion rate and other terms of the notes are to be determined upon pricing of the offering.
Ford intends to use the net proceeds from this offering for general corporate purposes, including the potential repayment of debt. The automaker employs approximately 186,000 people worldwide.
